for every half-percent increase in rates we'll see an approximate 5% reduction in borrowing power. Add to that the decrease in max dti levels. It's easy to comment on the immediate impact but the influence on the larger picture may not be so clear. It will hurt my business for sure but what does the fed do? Keep buying bonds? I say let's get on the the show. I started in the business when rates were 13% and dti's were even more restrictive, I still made a good living as a banker and at 50 bps.